The outgoing Biden administration announced new, significant sanctions against Russia's oil and liquefied natural gas sectors, targeting over 180 suspected oil-carrying vessels, traders, oil field service firms, and Russian energy officials. The sanctions aim to cripple Moscow's key revenue source for funding its war in Ukraine and cost the Russian economy billions of dollars per month. The move was coordinated with the U.K., which also sanctioned two major Russian oil producers and dozens of their subsidiaries.
FILE - President Joe Biden speaks after greeting reporter Evan Gershkovich, Alsu Kurmasheva and Paul Whelan at Andrews Air Force Base, Md., following their release as part of a 24-person prisoner swap between Russia and the United States, Aug. 1, 2024. The U.S. Treasury Department announced that it is expanding sanctions against the Russian energy sector for it’s nearly three-year old war in Ukraine.
In a move coordinated with Washington, the U.K. also slapped sanctions on Russian energy firms. The U.S. and Britain are both targeting two of Russia’s major oil producers, Gazprom Neft and Surgutneftegas, and dozens of the companies’ subsidiaries. The U.K. has already sanctioned almost 100 vessels in Russia’s oil-transporting “shadow fleet” as Ukraine’s Western allies seeking to increase economic pressure on Moscow ahead of any negotiations on ending the war.
The State Department also announced it was hitting 14 senior Rosatom officials and executives with travel bans that also affect their immediate family members. Trump added a new layer of doubt about future American support earlier this week when he appeared to sympathize with Putin's position that Ukraine should not be part of NATO. The president-elect has criticized the Biden administration for expressing support for Kyiv’s eventual membership in the transatlantic military alliance.
The designation comes under a sanctions authority approved during Russia’s 2014 invasion and annexation of Ukraine's Crimea peninsula, according to administration officials who briefed reporters on the the condition of anonymity under ground rules set by the White House.
RUSSIA SANCTIONS ENERGY WAR IN UKRAINE BIDEN ADMINISTRATION OIL INDUSTRY UKRAINE
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